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Box 3.115 should equal the sum of 3.111+3.112+3.113-3.114

Article ID
ias-10821
Article Name
Box 3.115 should equal the sum of 3.111+3.112+3.113-3.114
Created Date
4th February 2013
Product
IRIS Business Tax
Problem
Box 3.115 should equal the sum of 3.111+3.112+3.113-3.114
Resolution
IRIS will not put a negative figure on the Tax return. If you have made entries that will result in a negative figure populating a box on the return, IRIS will omit this from the Tax return. This can result in the balance sheet not balancing and you will get the error message detailed above. To amend this for a Partnership, you will need to go to Trades | Partnerships | Overwrite/Leave Alone, and set this to No Leave Alone. Then go to Trades | Partnerships | Data Entry | Trading And Professional Income | Balance Sheet Summary | Net Business Assets/Assets and Liabilities. Transfer any negative figures to an appropriate box i.e. if there is -£100 in drawings, remove it from this box and enter in capital introduced as a positive figure.

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